Legal Question in Wills and Trusts in California
Life Ins. & resonsibility of deceased parent's debts
If a parent of an adult child dies and that parent has a life insurance policy with the adult child as beneficiary is the child responsible for paying parent's debts with the life insurance money?
1 Answer from Attorneys
Re: Life Ins. & resonsibility of deceased parent's debts
No. The life insurance proceeds belong to the beneficiary, and not the the parent's estate. The child would receive the proceeds free and clear of the parent's debts.
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